Market Size of Processed Peanut Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.25 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Processed Peanut Market Analysis
The processed Peanut Market is projected to register a CAGR of 3.25% during the forecast period, 2022-2027.
The market is majorly driven by the growing awareness of the health benefits of peanuts as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals, and increasingly getting their popularity in the paleo diet. Additionally, the growing vegan population across the world is also supporting the growth of the market as peanuts are broadly considered a good alternative for fish and eggs for fulfilling protein, calcium, and vitamin B12 daily requirement. In recent decades, peanuts have gained an excellent reputation for being a health nut, as most of the fats they contain are known as 'good fats.' These kinds of fats help lower cholesterol levels in the body. Peanuts help prevent heart disease by lowering cholesterol levels. They can also prevent the formation of small blood clots and reduce the risk of having a heart attack or stroke.
Moreover, another advantage of peanuts is that they are more reasonably priced than many other types of nuts. Due to cost-benefit considerations and concerns of running out of things, the majority of consumers opt for bulk purchasing peanuts. Thus, large basket sizes remained a significant reason for the substantial sales of peanuts across all regions. In the medium term, the market is anticipated to witness the expansion of flavored peanut offerings by leading brands. For example, in June 2022, Planters, a Hormel Foods Corp. brand, launched Sweet & Spicy Dry Roasted Peanuts, which are now available at convenience stores.
